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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: TD who wrote (51267)	4/10/2000 12:11:00 AM
From: goldsheet	Read Replies (1) \| Respond to of 116836

There's a few errors and ommissions in the article. She claims that The Crash of 1929 came about as a result of (1) America reducing the gold content of the dollar by 40%, but gold was reserves were not revalued from $20.67 to $35 until 1/30/1934 The 1927 actions of the Bank of England, raising rate, reducing liquidity, and eventually eliminating their gold standard were not mentioned. Milton Friedman in his "Monetary History of the US" covers this in great details and claim the BOE 1927 actions and subsequent Federal Reserve actions were major causes of the crash/depression. By the way, Greenspan learned from this and in the 1987 stock market crash reduced rates and provided huge amount of liquidity into the financial system. The Fed in 1929 actually increased rates and reduced liquidity and made the 1929 Crash worse.